Received: 2016-11-20  |  Accepted: 2017-02-27


The safety risks related to bank cards and cyber attacks


In accordance with the rise and rapid growth in e-commerce in the past few decades, the use of payment cards for online purchases has significantly increased in the payment cards market. This situation has led to an explosion in payment card fraud and it is costing billions of euros and dollars in losses in the card payment industry. The understanding of security has therefore undergone a significant development. Due to the inaccurate evaluation of their personal security status, people tend to underestimate the safety features related to the protection of their financial data on the internet. This claim is supported by the high level of interest that cyber attackers show in persons operating in the public and economic spheres. The collection and data analysis carried out suggests that the target sample group has not had experience with cyber-attacks, predominantly because this group was made up of ‘ordinary’ people, presumably outside of the cyber attackers’ sphere of interest. It is therefore important to further investigate the opinion and consumer approach to security and payment card fraud. As a result of rising losses, financial institutions and card issuers are constantly searching for new technologies and innovations in payment card fraud detection and prevention. This article provides several views on personal safety and quality of security to payment cars and cyber- attacks.The data collection and analysis was carried out in Slovakia via electronic sample surveys. With sample surveys the data is collected from a base sample unit, which in this case consisted of a sample of residents of the Slovak Republic. The research sample for this investigation consisted of 287 respondents, out of which there were 164 men (57,14%) and 123 women (42,86%). For the purposes of the analysis, the respondents were divided into categories, based on their age, level of education and occupation. The study results can help the issuers of payment cards and banks as well as clients using payment cards, especially in order to improve the prevention against fraud and the unauthorised use of payment cards.


cyber-attacks, security, safety risk, customer, bank payment cards, payment card fraud, card payment industry

JEL classifications

D18 , F52 , G21 , K24





Korauš, Antonín
Pan-European University
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Dobrovič, Ján
University of Prešov
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Rajnoha, Rastislav
Tomas Bata University in Zlín
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Brezina, Ivan
Pan-European University
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Journal of Security and Sustainability Issues

Issue date



ISSN 2029-7017 (print)
ISSN 2029-7025 (online)


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